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In the absence of partnership deed,in which ratio is the deficiency arising out of guarantee of profit to a partner borne by the other partners?
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In the absence of partnership deed,in which ratio is the deficiency ar...
In their profit sharing but in the absence of partnership deed they share same ratio so no agreement about gareentee can take place there .
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In the absence of partnership deed,in which ratio is the deficiency ar...
Ratio of Deficiency Arising Out of Guarantee of Profit
In the absence of a partnership deed, the ratio of deficiency arising out of guarantee of profit to a partner is usually borne by the other partners in equal proportion. This means that the partners will share the burden of any losses or liabilities equally, regardless of their individual contributions or involvement in the business.
Explanation
When a partner guarantees a certain level of profit, they are essentially taking on a greater risk than the other partners. If the business does not generate the expected profit, the partner who guaranteed it may suffer a loss. In the absence of a partnership deed that specifies how such a loss should be borne, the other partners are expected to share the burden equally.
This approach is based on the principle of mutual agency, which holds that each partner is responsible for the actions and obligations of the other partners. If one partner takes on a greater risk, it is assumed that the others will support them in case of any losses or liabilities.
Conclusion
In summary, if there is no partnership deed in place, the deficiency arising out of guarantee of profit to a partner is usually shared equally among the partners. This approach ensures that each partner takes on a fair share of the risk and is responsible for the success or failure of the business as a whole.
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In the absence of partnership deed,in which ratio is the deficiency arising out of guarantee of profit to a partner borne by the other partners?
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In the absence of partnership deed,in which ratio is the deficiency arising out of guarantee of profit to a partner borne by the other partners? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In the absence of partnership deed,in which ratio is the deficiency arising out of guarantee of profit to a partner borne by the other partners? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the absence of partnership deed,in which ratio is the deficiency arising out of guarantee of profit to a partner borne by the other partners?.
In the absence of partnership deed,in which ratio is the deficiency arising out of guarantee of profit to a partner borne by the other partners? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In the absence of partnership deed,in which ratio is the deficiency arising out of guarantee of profit to a partner borne by the other partners? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the absence of partnership deed,in which ratio is the deficiency arising out of guarantee of profit to a partner borne by the other partners?.
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